Ann: EVG commences construction on Las Lagunas Go, page-8

re: Ann: EVG commences construction on Las La... butcherboy this link may explain the hedging positon better than I, you could forget the first page and page 18 most relative.

http://www.barrick.com/Theme/Barrick/files/docs_presentations/DetailedLookAtHedging.pdf

Anyway IMHO the hedging position BJ has taken looks fine although I would like to see him also hedge into a bunker oil contract as well in case the power company black mails EVG over its power supply prices with the excuse of a lower US dollar,
Then BJ then would have an alternative viable power supply scenario using diesel powered generators on site with fixed fuel cost.